Daily Market Report - 7 September 2026
- Wall Street ended lower as US job data came in stronger than anticipated thus possibility for the Federal Reserve to hike rates have increased during the next FOMC meeting in mid-September.
- As a result, the US 10-year yield inched higher at 4.784%. Over in Hong Kong, the HSI surged above the 25,600 level on optimism that the Fed may keep rates steady for now.
- The rally was mainly led by heightened buying interests back to tech related stocks. On the home front, the FBMKLCI weakened to below the 1,710 mark as selling persisted amongst the foreign funds.
- For the week, net foreign outflows have amounted to approximately RM870m. In view of this, we believe prevailing consolidation of the index may continue hence we expect it to hover within the 1,700-1,715 range today.
- Meanwhile, the escalation in tension between the US and Iran have maintained crude oil price high with the Brent now at almost the USD97/barrel.
